Avantax Advisory Services Inc. Has $2.85 Million Stock Position in Lam Research Co. (NASDAQ:LRCX)

Avantax Advisory Services Inc. grew its position in Lam Research Co. (NASDAQ:LRCX) by 900.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 39,407 shares of the semiconductor company’s stock after buying an additional 35,469 shares during the quarter. Avantax Advisory Services Inc.’s holdings in Lam Research were worth $2,846,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in LRCX. Fisher Asset Management LLC boosted its holdings in shares of Lam Research by 892.7% in the fourth quarter. Fisher Asset Management LLC now owns 18,578,181 shares of the semiconductor company’s stock worth $1,341,902,000 after buying an additional 16,706,708 shares during the period. Amundi boosted its holdings in shares of Lam Research by 7,601.9% in the fourth quarter. Amundi now owns 12,945,172 shares of the semiconductor company’s stock worth $990,464,000 after buying an additional 12,777,094 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of Lam Research by 860.4% during the fourth quarter. Bank of New York Mellon Corp now owns 11,786,808 shares of the semiconductor company’s stock worth $851,361,000 after purchasing an additional 10,559,508 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Lam Research by 931.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 8,482,429 shares of the semiconductor company’s stock worth $612,686,000 after purchasing an additional 7,659,830 shares during the period. Finally, National Pension Service acquired a new stake in shares of Lam Research during the fourth quarter worth approximately $219,200,000. 84.61% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Lam Research

In other news, SVP Seshasayee Varadarajan sold 110,080 shares of the firm’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $90.00, for a total value of $9,907,200.00. Following the sale, the senior vice president now owns 179,084 shares in the company, valued at approximately $16,117,560. This trade represents a 38.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.29% of the stock is currently owned by corporate insiders.

Lam Research Trading Up 4.6 %

NASDAQ:LRCX opened at $78.69 on Friday. Lam Research Co. has a 12 month low of $68.87 and a 12 month high of $113.00. The firm has a market cap of $101.01 billion, a price-to-earnings ratio of 23.90, a P/E/G ratio of 1.47 and a beta of 1.53. The company has a quick ratio of 1.73, a current ratio of 2.54 and a debt-to-equity ratio of 0.51. The company’s 50 day moving average is $79.57 and its 200-day moving average is $77.42.

Lam Research (NASDAQ:LRCX) last released its quarterly earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.87 by $0.04. Lam Research had a net margin of 26.49% and a return on equity of 51.86%. Equities analysts anticipate that Lam Research Co. will post 3.71 EPS for the current year.

Lam Research Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 9th. Stockholders of record on Wednesday, March 5th will be paid a $0.23 dividend. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $0.92 annualized dividend and a dividend yield of 1.17%. Lam Research’s payout ratio is 27.96%.

Wall Street Analyst Weigh In

LRCX has been the subject of several research reports. KeyCorp upgraded shares of Lam Research from a “sector weight” rating to an “overweight” rating and set a $95.00 price target for the company in a report on Friday, January 17th. Cantor Fitzgerald restated an “overweight” rating and set a $100.00 price target on shares of Lam Research in a report on Tuesday, February 18th. Wells Fargo & Company raised their price target on shares of Lam Research from $82.00 to $85.00 and gave the stock an “equal weight” rating in a report on Thursday, January 30th. Susquehanna upgraded shares of Lam Research from a “neutral” rating to a “positive” rating and raised their price target for the stock from $75.00 to $125.00 in a report on Thursday, February 20th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $90.00 price objective on shares of Lam Research in a research report on Thursday, January 30th. Six equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $98.22.

Lam Research Company Profile

Lam Research Corporation designs, manufactures, markets, refurbishes, and services semiconductor processing equipment used in the fabrication of integrated circuits. The company offers ALTUS systems to deposit conformal films for tungsten metallization applications; SABRE electrochemical deposition products for copper interconnect transition that offers copper damascene manufacturing; SOLA ultraviolet thermal processing products for film treatments; and VECTOR plasma-enhanced CVD ALD products.